LSI Logic expects the deal to close by June 30 and sees the deal as accretive to the company's earnings per share in the next 12 months.

With 1998 revenue of $28.1 million, SEEQ Technology is semiconductor designer of data communications products for the Internet networking market.

"Through the acquisition of SEEQ Technology, LSI Logic will offer a broader set of networking solutions to our customers, enhance our growth opportunities, and increase value for our shareholders," LSI Chairman and CEO Wilfred J. Corrigan said in a statement.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.